Sixth Street Specialty Lending’s (TSLX) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Sixth Street Specialty Lending (NYSE:TSLX) in a research report sent to investors on Tuesday morning, Benzinga reports. They currently have a $22.50 price target on the financial services provider’s stock.

A number of other research firms also recently weighed in on TSLX. Truist Financial boosted their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock a buy rating in a research note on Tuesday, February 20th. Royal Bank of Canada boosted their price target on shares of Sixth Street Specialty Lending from $22.00 to $23.00 and gave the stock an outperform rating in a research note on Friday, February 23rd. Finally, Wells Fargo & Company boosted their price target on shares of Sixth Street Specialty Lending from $21.00 to $22.50 and gave the stock an overweight rating in a research note on Monday, January 29th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $22.60.

Sixth Street Specialty Lending Trading Up 1.0 %

Shares of NYSE TSLX opened at $21.46 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.19. The company has a market cap of $1.88 billion, a PE ratio of 8.25 and a beta of 1.04. The company has a 50-day moving average of $21.44 and a two-hundred day moving average of $20.95. Sixth Street Specialty Lending has a 1-year low of $17.31 and a 1-year high of $22.35.

Sixth Street Specialty Lending (NYSE:TSLX) last posted its quarterly earnings results on Friday, February 16th. The financial services provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The business had revenue of $119.50 million during the quarter, compared to the consensus estimate of $115.18 million. Sixth Street Specialty Lending had a net margin of 50.69% and a return on equity of 13.67%. During the same period in the previous year, the firm posted $0.65 earnings per share. As a group, equities analysts expect that Sixth Street Specialty Lending will post 2.36 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.49%. This is a boost from Sixth Street Specialty Lending’s previous quarterly dividend of $0.07. Sixth Street Specialty Lending’s payout ratio is currently 70.77%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Strs Ohio boosted its holdings in shares of Sixth Street Specialty Lending by 2.6% in the fourth quarter. Strs Ohio now owns 3,134,865 shares of the financial services provider’s stock valued at $67,713,000 after buying an additional 79,180 shares during the period. Burgundy Asset Management Ltd. boosted its holdings in shares of Sixth Street Specialty Lending by 3.2% in the fourth quarter. Burgundy Asset Management Ltd. now owns 2,057,960 shares of the financial services provider’s stock valued at $44,452,000 after buying an additional 63,281 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of Sixth Street Specialty Lending by 8.1% in the fourth quarter. Sound Income Strategies LLC now owns 1,989,678 shares of the financial services provider’s stock valued at $42,977,000 after buying an additional 148,290 shares during the period. Morgan Stanley boosted its holdings in shares of Sixth Street Specialty Lending by 9.2% in the third quarter. Morgan Stanley now owns 1,942,510 shares of the financial services provider’s stock valued at $39,705,000 after buying an additional 164,351 shares during the period. Finally, Progeny 3 Inc. boosted its holdings in shares of Sixth Street Specialty Lending by 7.7% in the second quarter. Progeny 3 Inc. now owns 1,843,977 shares of the financial services provider’s stock valued at $34,464,000 after buying an additional 132,253 shares during the period. Institutional investors and hedge funds own 70.25% of the company’s stock.

About Sixth Street Specialty Lending

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.